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Steel stocks spike as Trump says he is considering using quotas, tariffs to deter dumping

Steel stocks jumped Thursday after a report President Donald Trump said he is considering quotas and tariffs on steel imports to the U.S.

Shares of U.S. Steel traded 3.5 percent higher, while AK Steel leaped more than 5.5 percent.

"There are two ways — quotas and tariffs. Maybe I'll do both," Trump said Wednesday evening, according to excerpts of his conversation with reporters on Air Force One. The transcript was made available Thursday afternoon.

"Not only China, but others. We're like a dumping ground [for steel]...